As we can see in the chart, Amazon(AMZN) WXY correction is in blue and we expect more downside to around $60 only when the wave (Y) in blue and Wave ((II)) in black are complete.
Technical Analysis: - H1 & H4 Right Side are Turning Down - Technically AMZN has now 5 waves down and has a strong correlation with NASDAQ - that's why we expect that it extends lower to around $60 where smart buyers will must appear and we'll like to do an edging buy.
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Technical Analysis:
- Don't buy AMZN in short term - In short term AMZN continues to extend lower - H1 & H4 Right Side are Turning Down - We need to check the Correlation with NASDAQ
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Technical Analysis:
- AMZN is about to complete a wave ((2)) in black as you can see chart - If the invalidation level 1 crosses will take place a bounce in WXY correction - We expect it continues lower to complete wave C in red around $58-$60 where smart buyers will must appear - H1 Right Side is Turning Up - H4 Right Side is Turning Down
Technical Information:
- Wait for correction to be completed in order to buy - Don't sell AMZN
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Technical Analysis:
✅ OUR LAST WEEKLY CHART IS VERY CONSISTENT WITH OUR OTHERS PUBLISHED WEEKLY CHARTS
- AMZN is about to complete a wave ((2)) in black as you can see in the chart - If the invalidation level 1 crosses will take place a more big bounce - We expect that price continues lower to complete wave C in red and wave ((II)) in black around BMV:60 where smart buyers will must appear - H1 & H4 Right Side is Turning Down
Technical Information:
- We expect smart buyers will arrive at around BMV:60 - Don't sell AMZN now as it can do a double b correction in red
@Jonniefriday206, Thanks very much for your idea. H30 i agree in H4 , I am sorry but i do not agree. Let us go and see in the next hours/ days . Do have a nice DAY
@TORNADOF5, the smart buyers must appear around $60 in AMZN. AMZN has a strong correlation with NASDAQ and other instruments like AMZN also have correlation with NASDAQ. To do a more safe buy we need to check the NASDAQ level correction. Please check our last update.
@nbeliopoulos, we can see other tech have bounced a bit.. amazon has really struggled, i think we will have a fakeout maybe, but i wont be entering much earlier.
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@nbeliopoulos, as you know we never know what are the level - up or down that an instrument can reach as nobody can control the market. With actual data in daily and weekly AMZN will extend lower. Anyway between $65 and $75 it can always truncate and erase RSI Divergence but only with more future data we can change our forecast. Thank you very much.